As one friend told me, signing Peyton Manning was the perfect “get out of Tebow free” card for the Broncos. Between Elway refusing to name Tim Tebow the team’s franchise quarterback for most of the season, and John Fox saying Tebow would be screwed in a normal offense, it was pretty clear Denver had reservations about Timmy. Signing Manning allowed them to get out of the situation because they now plan to trade him.

Many people have been wondering what Tim Tebow thinks about being bumped out by the Broncos. Elway answered that as well as possible during the team’s press conference introducing Peyton Manning Tuesday.

“Obviously he was disappointed, I’m sure he was disappointed,” Elway said. “He didn’t come out and say he was disappointed. I think it was a typical Tim Tebow response in that he was very positive and he said ‘Well, we’re talking about Peyton Manning … and I understand exactly what you’re doing.’ The response was exactly what we know of Tim, and that is being very very positive.”

“The toughest thing about this whole thing is Tim Tebow because of what I think of Tim Tebow,” Elway explained. “The things that he did last year was tremendous. He helped turn this organization around from a 4-12 team to a playoff team that won the division. I got a great deal of respect for him as a person and the things that he does. But that is no question the toughest thing about this business. We had to make a decision …”

Elway confirmed the team is looking at trading Tebow and giving him an opportunity to succeed as a quarterback elsewhere.

There were several other notable comments from Manning or Elway that are worth sharing. Manning acknowledged he is not ready yet but he told the Broncos he had “no doubt” he could get back to his old form. He also said he was transparent when it came to his medical issues, saying he wanted teams to know exactly how well he was and where he needed work.

And on a fun note, Manning says Champ Bailey and Elvis Dumervil don’t have to blow up his phone anymore since he’s signed. I wonder how Tim Tebow feels about that given how supportive Champ was throughout last season. I’m sure it stings but Tebow won’t let it keep him down.